Blue Jay Gold is advancing its flagship Steller Gold Project, a high-grade epithermal gold-silver vein system located about 55 km south of Whitehorse in Yukon’s Whitehorse Mining District, along with three gold projects in Ontario. In this interview, CEO Geordie Mark discussed the company’s recent TSXV listing, its maiden drill program on the project, the existing resource base, recent financing, site infrastructure, and plans for resource growth through drilling and studies while working toward a longer-term production pathway.
TL;DR
Blue Jay holds a recent NI 43-101 resource on Steller of roughly 400,000 ounces gold equivalent indicated at 9 g/t and 450,000 ounces inferred at 6.5 g/t, with about 85% gold. The company soon is starting a fully funded drill program of up to 16,000 metres in mid-June 2026, with roughly 70% aimed at resource expansion step-outs and the balance testing new targets. First assays are expected from August 2026 onward and could support a later resource update. Cash from the April 2026 financing of close to $15 million should cover the program and operations well into 2027 with no immediate need to raise more capital this year.
What have they done for shareholders lately?
They completed the spin-out from Riverside Resources in May 2025, acquired the Steller project in September 2025 for about $600,000 cash plus shares, and listed on the TSXV under JAY in early June 2026 after closing a brokered private placement. On site, they reorganized historical core storage, improved camp and facility layout, and reprocessed geophysical data including magnetics inversion ahead of drilling. Baseline environmental work is now starting, and they have an existing exploration permit through the end of the year with a class 3 extension under review.
How much money do they have and what are they spending it on?
After closing a broker-led private placement of close to $15 million on April 8, 2026, priced at 80 cents for non-flow-through and $1.15 for flow-through shares, Blue Jay has sufficient cash to complete the full 16,000-metre drill program and operate well into next year with no plans to raise more capital this year. Roughly 10 million warrants remain outstanding that could bring in additional funds if exercised. CEO Geordie Mark told us he holds roughly 400,000 shares acquired at an average cost just over 40 cents.
Upcoming catalysts
Technical catalysts include initial assay results from the 2026 drill program at Steller expected to begin flowing in August 2026 and continue into next year, which may support a resource update (if step-out holes deliver). Operational work covers drilling from mid-June through October focused on resource expansion and new targets, plus re-logging of 24,000 metres or more of historical core with spectral and oriented structural data. Corporate items include release of results from the recent IP survey on the Ontario assets, extension of exploration permits, ongoing environmental baseline studies, and continued engagement with Yukon government and First Nations stakeholders.
Risks
Blue Jay Gold CEO Geordie Mark noted that drilling success depends on correctly interpreting structural controls and dilation zones, with risks that unexpected faults or intrusive bodies could offset predicted mineralization. Execution risks exist around consistently delivering the large re-logging and drilling program while integrating new data. Although the company states it has enough cash for this year’s work, failure of warrants to exercise could require returning to equity markets next year. Legacy reclamation and water management obligations from prior operations are being addressed, but ongoing permitting, environmental baseline work, and constructive relations with the Yukon government and First Nations remain necessary.
Blue Jay Interview With CEO Geordie Mark
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